Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Shares Acquired by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP raised its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 331.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 254,057 shares of the medical device company’s stock after acquiring an additional 195,194 shares during the quarter. ExodusPoint Capital Management LP owned approximately 0.39% of Tandem Diabetes Care worth $9,151,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AlphaQuest LLC boosted its holdings in shares of Tandem Diabetes Care by 138.7% in the 4th quarter. AlphaQuest LLC now owns 931 shares of the medical device company’s stock valued at $34,000 after buying an additional 541 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Tandem Diabetes Care by 195.8% in the fourth quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company’s stock valued at $41,000 after acquiring an additional 748 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Tandem Diabetes Care by 77.5% during the fourth quarter. Assetmark Inc. now owns 1,225 shares of the medical device company’s stock worth $44,000 after purchasing an additional 535 shares during the last quarter. McIlrath & Eck LLC acquired a new stake in shares of Tandem Diabetes Care during the third quarter worth about $52,000. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Tandem Diabetes Care by 163.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,775 shares of the medical device company’s stock valued at $65,000 after purchasing an additional 1,101 shares during the last quarter.

Analyst Ratings Changes

TNDM has been the topic of several research analyst reports. Sanford C. Bernstein lowered Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $35.00 to $25.00 in a research report on Friday, February 28th. Robert W. Baird cut their target price on shares of Tandem Diabetes Care from $37.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Citigroup cut shares of Tandem Diabetes Care from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $35.00 to $24.00 in a research note on Tuesday, March 4th. Royal Bank of Canada dropped their price objective on shares of Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Finally, Morgan Stanley downgraded shares of Tandem Diabetes Care from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $45.00 to $22.00 in a research note on Wednesday, March 5th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $45.38.

Insider Activity at Tandem Diabetes Care

In other Tandem Diabetes Care news, COO Jean-Claude Kyrillos acquired 10,538 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average cost of $18.12 per share, with a total value of $190,948.56. Following the purchase, the chief operating officer now owns 10,538 shares in the company, valued at approximately $190,948.56. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.20% of the stock is currently owned by company insiders.

Tandem Diabetes Care Price Performance

TNDM stock opened at $16.88 on Friday. The firm has a 50 day moving average of $26.36 and a 200-day moving average of $32.24. The company has a market cap of $1.12 billion, a price-to-earnings ratio of -8.75 and a beta of 1.45. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. Tandem Diabetes Care, Inc. has a 12-month low of $16.08 and a 12-month high of $53.69.

About Tandem Diabetes Care

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes technology solutions for people living with diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform for managing insulin delivery and display continuous glucose monitoring sensor information directly on the pump home screen; and Tandem Mobi insulin pump, an automated insulin delivery system.